Alipay brings enhanced “cashless” experience for Chinese tourists in the Principality of Monaco

LONDON, June 27, 2017 (GLOBE NEWSWIRE) — Alipay, the world’s largest online and mobile payment platform operated by Ant Financial Services Group (“Ant Financial”, “Ant”), today announced that it has signed a MoU with the Government of Monaco, which will enable merchants in Monaco to accept payment via Alipay, giving Chinese tourists the same convenient payment experience that they enjoy at home.

Douglas Feagin, President of International Business, Ant Financial Services Group, said, “As part of our globalization strategy, we are focused on working with local partners to bring a seamless Alipay mobile payment experience to Chinese tourists, no matter where they go. The MoU makes Monaco the 12th country in Europe to accept Alipay, and we are very excited to launch the platform in the principality in collaboration with the Government of Monaco and our banking partner BNP Paribas.”

H.E Mr Serge Telle, the Prime Minister of Principality of Monaco, said, “The future is becoming cashless, and China is increasingly leading the market in mobile payment innovations. It is exciting that these frictionless payment methods are available to our Chinese visitors for the first time and we look forward to seeing this partnership come to fruition.”

The MoU was agreed at a signing ceremony attended by senior dignitaries and business figures:

Douglas Feagin, President of International Business, Ant Financial Services Group

Over ten merchants in Monaco are already accepting Alipay, including Monte-Carlo Société des Bains de Mer with 4 hotels (Hôtel de Paris Monte-Carlo, Hotel Hermitage Monte-Carlo, Monte-Carlo Bay Hotel and Resort, Monte-Carlo Beach), 3 spas including Thermes Marins Monte-Carlo, souvenir and gifts shops, and restaurants and bars. Alipay is also accepted by Monacair, Monaco’s V.I.P. helicopter airline and official supplier to S.A.S. the Sovereign Prince of Monaco. Merchants who may onboard with the platform in the coming months include the Monaco Yacht Club, Metropole Hotel, and the Fairmont Hotel.

BNP Paribas, one of Alipay’s key partners in Europe, enables merchants to accept Alipay across Monaco.

The agreement was brokered by Stelitt, which has partnered with Ant Financial in marketing Alipay in Monaco and France.

Pascal Do, CEO of Stelitt added: “Tourism accounts for 12% – 15% of GDP in Monaco and is a major driver of the economy. We are happy to connect Monaco and Alipay; making it easier for Chinese visitors to purchase souvenirs and experiences in a cashless way is a win-win.”

Alipay is now accepted by more than eight million merchants across China and 120 thousand bricks-and-mortar shops overseas. Ant Financial has a number of key collaborations in Europe through its network of local acquirers including BNP Paribas, Barclays, Concardis, Ingenico, SIX, UniCredit, SIX, and Wirecard.

About Alipay
Operated by Ant Financial Services Group, Alipay is the world’s leading mobile and online payment platform. Launched in 2004, Alipay currently has over 450 million active users and over 400 financial institution partners. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 8 million brick-and-mortar merchants now accept Alipay across China. Alipay’s in-store payment service is covering more than 120,000 retail stores across the world, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay works with over 200 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 19 currencies.

About Ant Financial
Ant Financial Services Group is focused on serving small and micro enterprises, as well as individuals. With the vision “bring the world equal opportunities,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit and MYbank.

For more information on Ant Financial, please visit our website at www.antgroup.com; or follow us on Twitter @AntFinancial.

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